<html><body>
Shaynna Blaze will front Nine’s silly new property series Buying Blind.
The show features buyers who hand over their life-savings to others to secure their home.
Buying Blind was originally aired on <a href="https://redarrow.tv/broadcasters-get-the-keys-to-red-arrow-internationals-buying-blind/" target="_blank">Danish television</a> - made by the same production company behind the Married At First Sight.
The Block/Selling Houses Australia expert will be joined by buyer’s agent, Rich Harvey and builder, Marshal Keen.
Some have dubbed it Mortgage at First Sight.
“Buying a home is the biggest investment a couple will ever make together, so I couldn’t be more excited to join these couples on their journey to find, build and design their dream home,” said Blaze.
Nine’s Head of Content Production and Development, Adrian Swift, said the show had "unlucky house-hunters who take the ultimate leap of faith".
It’s marketed as edge-of-the-seat drama with the biggest reveal on TV.
Mark Fennessy, CEO of Endemol Shine Australia, the series producers says Buying Blind is a high-stakes property thriller.
An airdate is yet to be announced.
The show's moment of truth comes when the family must decide whether to grant the experts power of attorney over their life-savings to buy a house on their behalf.
The experts then start house-hunting, culminating in them putting in an offer, negotiating the price and completing the purchase.
Then the family are taken to the property, blindfolded, and their new house is revealed to them for the first time.
Disappointment often ensues; and then the experts spend some of the client's money for renovations.
</body></html>

jchancellor-FAypfDUnLy

MAFS for property: Buying Blind to take property television to new lows

<html><body>
The images of Prime Minister Malcolm Turnbull and the French President Emmanuel Macron looked fantastique last week on the lawn at Kirribilli House.
But are taxpayers getting value for money, when these days the home is used principably for dinners and press conferences?
With views of the Harbour Bridge and Opera House, both Kirribilli House and the neighbouring Admiralty House, there for the Governor-General's pleasure, rank among the city's most prestigious real estate. 
The Gothic Revival residence has been the Prime Minister's Sydney home since the 1930s, but I'd suggest Treasurer Scott Morrison's budget tonight ought signal one or maybe both homes should be sold. Let them just entertain in Canberra at The Lodge and Government House.
It was last flagged in 2004 when the then Federal Opposition leader Mark Latham foreshadowed that he would sell the harbourside mansion.
John and Janette Howard stayed put.
At the time it elicited speculation it could fetch around $50 million which would be handy revenue, but more importantly send a stocktaking message.
Even had Malcolm and Lucy opted to downsize from their Point Piper harbour front, the question still needs to be asked.
While it might not go down well with those who politicians who like icons, the Federal Government should not be Sydney-centric.
This article first appeared in The Sunday Telegraph. 
</body></html>

Icon homes ought be considered for government selloff at Kirribilli 

<html><body>
In another crowdfunding first, DomaCom Australia announced that the crowdfunding campaign to fund a mortgage backed loan has been successfully completed. 
Newcastle based financial advice firm Shartru Wealth Management has used the DomaCom platform to acquire a $1.6 million residential property in Melbourne using both debt and equity.
A crowdfunding campaign was completed to raise around $682K for the equity component and another campaign was completed to raise the remaining $948K debt. 
In executing both sides of the transaction, Shartru have been able to satisfy the growth needs of their accumulation clients as well as the income needs of their retiree clients with an attractive net return of 5.06% in a low risk environment.
The loan is secured by a first mortgage security on residential property with a conservative LVR of around 60%. 
Shartru CEO, Rob Coyte, said it delivered a tax effective investment for our growth-oriented clients whilst also being able to deliver an attractive income investment to our retiree clients.
"An investment option returning 5.06% and secured by first registered mortgage with a low LVR is attractive in today’s environment where retirees are lucky to receive a 2.5% return from term deposits,” he said.
DomaCom CEO, Arthur Naoumidis explained that one of the great benefits of property investment is to be able to use internal gearing to deliver long term tax effective returns.
“We are pleased we can now facilitate debt arrangements via the DomaCom platform, offering expanded opportunities for investors”
“Advisers can now fund both the equity and the debt portions of a property investment which enables them to provide the appropriate investment outcomes for both accumulation and retiree clients”.
“We are now looking forward to accelerating our FUM with these new debt facilities, particularly in the SMSF space. SMSFs can have a precise asset allocation to real property via DomaCom, including debt, without the need for a Bare Trust, limited borrowing and with all the additional administration and cost involved”.
“With a managed fund like DomaCom and with access to debt, Advisers have an internal solution to help clients access investment property and fixed interest income in line with their portfolio strategy as part of the adviser’s fee for service.
"This is something DomaCom has been working towards for three years”.
To learn more about crowdfunding, visit <a href="https://www.domacom.com.au/" target="_blank">DomaCom here</a>.
</body></html>

Domacom crowdfunds first mortgage backed loan for Melbourne purchase

<html><body>
The auction clearance rates across capital cities continue to yo-yo.
<div class="x_mcntpage" title="Page 1">
<div class="x_mcntsection">
<div class="x_mcntlayoutArea">
<div class="x_mcntcolumn">
CoreLogic advised the capital cities saw fewer homes taken to auction, with a total of 2,280 held, down on the prior weekend tally when 2,577 were held. 
But the lower volumes saw an improved preliminary clearance rate at 63.5 per cent, up on the weekend prior’s revised clearance rate which ranked the lowest over the year-to-date with 60.3 per cent of properties selling
The unit market outperformed houses, returning a 67.7 per cent clearance rate, with a 61.7 per cent for houses.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/unitvhouse.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/unitvhouse.jpg" alt="">
The gap was greatest in Sydney where 75.5 percent of units sold compared to 62.5. The gap was narrower in Melbourne at 65.8 against units at 62.4 percent. Canberra went against the national trend as houses outperformed units, 79.4 percent to 57.1 percent.  
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/Sydneyunitsvhouses.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/Sydneyunitsvhouses.jpg" alt="">
Its follows the price trend where the unit market prices are outperforming house value growth, units being the more affordable segments of the market.
Although the preliminary clearance rate has shown a positive rise over the week, CoreLogic auction analyst Kevin brogan advised the trend in auction clearance rates clearly shows a downwards trend.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/bris.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/bris.jpg" alt="">
"Auction markets remain more buoyant than December last year, when Sydney clearance rates reached a low point of 52 percent, however the weaker auction results suggest housing market conditions are likely to remain relatively soft," Brogan said.
</div>
<div class="x_mcntcolumn">
"Looking at results over the corresponding year-to date period last year, the capital city auction market was performing quite differently, with an average of 10 per cent more homes selling over the same period last year, while weekly volumes continue to show similar trends," he noted.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/melbourne0.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/melbourne0.jpg" alt="">
Melbourne returned a preliminary clearance rate of 63.5 per cent this week across 1,137 auctions, down on last week when 1,334 auctions took place and a higher 63.9 per cent cleared.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/auction_may7.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/auction_may7.jpg" alt="">
Sales were occurring after auctions including an Elsternwick offering.
The Block alumni reno stars Julia Treuel and Sasha Wright-Neville’s latest project fetched $2.485 million in post-auction negotiations after it passed in on a vendor bid of $2.3 million.
The Herald Sun advised Gary Peer &amp; Associates agent Jeremy Rosens had been quoting $2.3 million to $2.5 million for the 2016 transformed four-bedroom Edwardian at <a id="x_mcntLPlnk616086" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/7-willow-street-elsternwick-vic/property-details-buy-residential-11785938/" target="_blank" rel="noopener noreferrer">7 Willow Street</a>.
There was a post-auction result too on a converted Fitzroy furniture factory with Provan-Ludlow design (top below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/fitz2.jpg" alt="">
The <a id="x_mcntLPlnk987193" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/51-s-little-smith-street-fitzroy-vic/property-details-sold-residential-11775290/" target="_blank">51 South Little Smith Street offering</a> fetched $2.015 million after the house had passed in at $1.925 million through Jellis Craig Fitzroy agent Bev Adam who said said the buyer and sole bidder came from St Kilda East.
Melbourne's top officially advised result was <a id="x_mcntLPlnk819398" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-vic-armadale-128025734" target="_blank" rel="noopener noreferrer">507 Orrong Rd, Armadale</a>, a 10 bedroom offering. 
Listed with $5.5 million to $5.95 million hopes, it fetched $6.6 million.
Set on the corner of Karbarook Ave, benefiting from a GRZ Schedule 3 zoning, the 1930's English style residence currently divided into three separate apartments, was marketed by Marshall White as "an outstanding opportunity for a luxury development."
There were just the two bidders after the property was announced on the market at $6.25 million.
There was also a $6.25 million sale in Hawthorn when the four bedroom Biasca, at <a id="x_mcntLPlnk327092" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/20-riversdale-court-hawthorn-vic/property-details-buy-residential-11780853/" target="_blank" rel="noopener noreferrer">20 Riversdale Court</a> was sold (below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/biasca.jpg" alt="">
It was listed with $5.3 million to $5.8 million price guidance.
In Sydney, 774 auctions were held this week with 66.9 per cent selling, up on last week when only 55.8 per cent of auctions were successful across a slightly higher 829 auctions.
Sydney's top sale was at Balmain, in Sydney's inner west, where a three-bedroom waterfront sold $500,000 above reserve at $4.8 million.
<div class="x_mcntcq-article-content-paras x_mcntsection">
<div id="x_mcntarticle-inline-ad" class="x_mcntadWrapper">Just two bidders competed for the house at <a id="x_mcntLPlnk335437" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-balmain-128020726" target="_blank" rel="noopener noreferrer">3 Longview Street</a>, which had its own deep-water mooring and views across the Parramatta River.</div>
<div class="x_mcntadWrapper">Domain reported it sold to a Brisbane couple returning to Sydney after four years away.</div>
<div class="x_mcntadWrapper">Brisbane saw the nation's cheapest sale at $220,000 for <a id="x_mcntLPlnk62351" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-qld-kingston-128099434" target="_blank" rel="noopener noreferrer">4 Dale St, Kingston</a>. The three bedroom Logan district home that sits on a 658 sqm block last traded in 1974 at $17,000.</div>
</div>
<div class="x_mcntcq-article-content-paras x_mcntsection">
Results were varied across the smaller auction markets this weekend, with Canberra and Perth recording a slight increase in week-on-week volumes, while the remaining markets saw fewer auctions take place.
</div>
Canberra was the strongest performer with 74 per cent of homes selling, while only 18 per cent of Perth homes sold.
Prices in Canberra ranged between $417,000 at Casey and a $1,475,000 sale at Turner.
</div>
</div>
</div>
</div>
</body></html>

Auction clearance rates are yo-yoing, but autumnal trend is downwards

<html><body>
Domain's revised results for the weekend of April 28 and 29 put the Sydney clearance rate at 48.1 per cent.
It was a significant occurrence, the first time below 50 percent on an ordinary auction weekend for many years.
<table style="height: 173px; width: 531px;" border="0"><tbody>
<tr>
<td>Last week revised tally</td>
<td>Saturday 28 April 2018</td>
</tr>
<tr>
<td>City</td>
<td>Sydney</td>
</tr>
<tr>
<td>Clearance rate</td>
<td>48.1%</td>
</tr>
<tr>
<td>Number listed</td>
<td>673</td>
</tr>
<tr>
<td>Number reported auctions</td>
<td>502</td>
</tr>
<tr>
<td>Number sold</td>
<td>301</td>
</tr>
<tr>
<td>Number w/drawn</td>
<td>124</td>
</tr>
<tr>
<td>Total value sold (million)</td>
<td>$261.7</td>
</tr>
<tr>
<td>Auction median houses</td>
<td>$1,307,000</td>
</tr>
<tr>
<td>Auction median units</td>
<td>$905,000</td>
</tr>
</tbody></table>
Cooley Auctions' auctioneer Damien Cooley recently suggested a generally accepted auction clearance rate for a healthy market, where both sellers and buyers have equal bargaining positions, was between 50 per cent and 60 per cent.
The original Saturday night had the clearance rate at 58.1 percent.
<table style="height: 174px; width: 414px;" border="0"><tbody>
<tr>
<td>City</td>
<td>Sydney</td>
</tr>
<tr>
<td>Clearance rate</td>
<td>58.1%</td>
</tr>
<tr>
<td>Number listed</td>
<td>670</td>
</tr>
<tr>
<td>Number reported auctions</td>
<td>378</td>
</tr>
<tr>
<td>Number sold</td>
<td>264</td>
</tr>
<tr>
<td>Number w/drawn</td>
<td>76</td>
</tr>
<tr>
<td>Total value sold (million)</td>
<td>$224.1</td>
</tr>
<tr>
<td>Auction median houses</td>
<td>$1.3 milion</td>
</tr>
<tr>
<td>Auction median units</td>
<td>$905,000</td>
</tr>
</tbody></table>
"Buyers certainly feel like the tides have changed ... but we won't call them buyers' markets unless clearance rates are less than 50 per cent.""Things are changing and the market is not as good as it was, but it's a very fair market," Cooley Auctions' auctioneer Damien Cooley told Fairfax Media recently.
</body></html>

Domain put Sydney clearance rate at just 48 percent, i.e. a buyer's market

<html><body>
A Kew home, built in 2016 with the dream mancave by Anderson Homes boss Laurie Anderson, was snapped up before its scheduled weekend auction.
It was the 2017 Master Builders Association Victorian runner-up for home of the year which left the judges, like the buyers, impressed by the home’s hydraulic raised driveway.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/kew2.jpg" alt="">
The Hillcrest Avenue driveway led to the basement in <a id="x_mcntLPlnk38888" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-vic-kew-128067222" target="_blank">the home</a> that cost $4 million to build after its design by Anderson Home in conjunction with Stephan Kosa Architects.
The vast 320 sqm basement space came with video golf driving range, bar with beer on tap, wine cellar, plus workshop complete with car turntable and its automoted driveway ramp.
There was even light through a window view through to the pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/kew3.jpg" alt="">
There's a lift to upstairs in the four bedroom, four bathroom home that sat on a 740 sqm block which cost $1.98 million in 2014.
No sale price has emerged from the mid-week auction, but Kay &amp; Burton agent Scott Patterson and Fletchers’ Jeremy Desmier, had initially advised to expect to pay between $6.2 million to $6.8 million.
There's speculation closer to $7 million was achieved, which would rank as the top result for weekend listings.
 
</body></html>

Anderson Homes-built Kew mancave home tops weekend auction listing sales

<html><body>
Award-winning artist Nigel Sense and his wife, the designer, Monica Lawrie secured $1.31 million for their Marrickville warehouse conversion.
McGrath Inner West agent Adrian Tsavalas had eight bidders register, but first time buyers secured the property against strong underbidder investor bidding.
The buyers will operate her business, Studio Chen Chen, from the downstairs shop.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/27/marrick2.jpg" alt="">
There was a $1.2 million reserve price. 
They'd completely renovated and extended the property since paying $380,000 in 2010.
The old store front is now Sense's studio.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/27/marrick3.jpg" alt="">
It had a $1.15 million guide through McGrath inner west agent Adrian Tsavalas, who sold the property eight years ago. 
<a href="https://www.realestate.com.au/sold/property-house-nsw-marrickville-127960882" target="_blank">Marketed as a residential and commercial property</a>, the two level residence has two bedrooms, two bathrooms and a rear entertaining terrace.
Sense, a graduate from the University of Wollongong, is a neo-expressionist artist and has had his work featured in a number of group exhibitions throughout Australia and Sri Lanka.
He draws inspiration from the American abstract expressionists and pop artists of the 1960s.
 
</body></html>

Marrickville warehouse conversion sold to shop keeper first home buyers

<html><body>
<div class="cq-article-content-paras section">
The ASX-listed residential developer Desane has won its court battle against the NSW government's proposed low value compulsory acquisition of its development site in Rozelle for the construction of the WestConnex motorway.
<div class="cq-article-content-paras section">
Justice Hammerschlag ruled the government's notice to acquire Desane's development site at 68-72 Lilyfield Road in Rozelle had no statutory effect.
"Compulsory acquisition of private property is no light matter. 
"Complying with the requirements of s 15 is not a matter of difficulty, and it is not too much to ask of an authority of State given power to interfere with such rights," the judge ruled.
Desane will keep the land to progress the residential development of its $100 million 200-apartment project, its chairman Professor John Sheehan advised.
</div>
<div class="cq-article-content-paras section">
"I refer to Darryl Kerrigan in the movie The Castle," Professor Sheehan said after the court judgement.
"The court basically threw out the case."
<div class="cq-article-content-paras section">
"They were being mean and tricky and trying to steal the property from us. They conveniently overlooked the LEP [Local Environmental Plan]."
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/1/west-connex.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/1/west-connex.jpg" alt="">
"The bigger picture is that is is simply due to cost overruns, and the government is looking at value capture," he added.
They will acquire some sites on the fringe and get a development application... to offset the cost overrun," he said.
</div>
</div>
<div class="cq-article-content-media section">"It begs the question why some of these properties on the edge of infrastructure projects are being acquired," he told The Australian Financial Review adding that evidence revealed that the site was merely being considered for a car park.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">“From day one, Desane questioned the true purpose of RMS’ proposed acquisition of our Rozelle property”, Professor Sheehan officially advised shareholders his ASX notification.</div>
<div class="cq-article-content-media section">
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
“We are pleased that Justice Hammerschlag has found that the PAN issued by RMS was of no effect.”
</div>
</div>
</div>
</div>
</div>
<div class="cq-article-content-paras section">
"If a land owner compulsorily to be dispossessed is entitled to know precisely what the land is needed for a public purpose, that entitlement must stem from elsewhere," Justice Hammerschlag said in his judgment.
"If there is no such entitlement, the land owner might never learn why his land is to be taken, an outcome which would be dissonant with the right in point of justice [articulated by Dixon CJ]."
</div>
<div class="cq-article-content-media section">"I conclude that the proposed acquisition notice of no statutory effect for failure to state the public purpose for which the property is to be acquired."</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">Late last year the Supreme Court of New South Wales ordered a mediation with the NSW government and various government agencies related to their proposed compulsory acquisition of the developer’s site in Sydney’s Rozelle.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The NSW state government and the Roads &amp; Maritime Services were ordered by the NSW Supreme Court to disclose documents justifying the compulsory acquisition.
</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">Desane Properties Pty Ltd was represented in the proceedings by the Honourable Ron Merkel QC, David Pritchard, SC, and Stewart Levitt of Levitt Robinson Solicitors.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">RMS had throughout known that Desane wished to negotiate a solution which obviated the necessity for the permanent taking of the whole of the property.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">His honour noted what appeared to be the most developed plan at the time of the PAN shows only a use of a sliver of the property for a utilities corridor. </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"An easement would no doubt have sufficed to achieve this requirement absent the parkland commitment," Justice Hammerschlag ruled. </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"The same can be said of any works deep beneath the property.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"In my view, it is improbable that RMS would have sought to acquire the entirety of the property (which it currently values at over $20 million) where only a sliver of it would be used, but for its open space and green parkland purpose."</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">
His Honour noted "in contrast to its somewhat amorphous purpose for acquiring the property to be used as a construction site, from at least 21 July 2016 RMS has had the unqualified and fixed purpose to acquire the Property to provide 10 hectares of open space and green parkland as publicly committed to by the Government</div>
<div class="cq-article-content-media section">.</div>
<div class="cq-article-content-media section">"The PAN was given to effectuate that purpose.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"That purpose is ulterior to the purpose for which the PAN could properly have been given," he ruled.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"It will be an abuse of RMS’ powers if the ulterior purpose is a substantial purpose in the sense that no attempt would have been made to acquire the land if it had not been desired to achieve the unauthorised purpose."
</div>
</body></html>

Desane's Darryl Kerrigan wins case against low value Westconnex compulsory acquisition by NSW Government

<html><body>
Stamp duty is a tax that discourages the buying and sale of homes. 
It provides the NSW State Government with a fairly reliable income.
There are two debates running ahead of the upcoming state budget. One is on the rate of the tax, the other on whether it should be phased out and replaced with another tax.
This week the Real Estate Institute of New South Wales (REINSW) really lashed out having long failed in their lobbying efforts to persuade the government to respond to the stamp duty bracket creep that has been in place for more than three decades.
It was time for the NSW government to amend the 1986 stamp duty brackets, according to the REINSW president Leanne Pilkington, who said the Government’s conduct was "nothing less than unconscionable”.
Pilkington noted the second reading to the 1986 Bill noted the increased rates for conveyances only affected properties worth more than $300,000 "and thus will not affect the average home purchaser”. 
The median house price in Sydney is now at $1.1 million, costing $46,000 in stamp duty.
Last financial year more than $7.3 billion was collected in stamp duty.
Up until February this year the government has raised $4.7 billion, so is on par with last financial year.
That's despite first home buyers being able to buy property up to $650,000 without having to pay stamp duty, and homes up to $800,000 seeing a discounted stamp duty.
Any adjustment to the standard stamp duty threshold rate would be simple, though likely at cost to overall revenues.
However the revenue could potentially go higher, and certainly be more stable, if the NSW government took the braver decision to phase in a broad based land tax that spreads the income across all land owners rather than only on those buying homes.
Many economists, and Ken Henry, author of the 2010 Henry Tax Review, have long argued that a broad based land tax is the most equitable way to tax property owners.
Earlier this month CEDA, the Committee for Economic Development of Australia, raised the issue in its report on inequality, How unequal? Insights on inequality. 
Unlike stamp duty which imposes a huge up-front financial burden upon only home buyers, a broad-based land tax, paid annually and spread over a wider base of people, provides a steady income stream to government to fund infrastructure.
It also would not stymie listings because many more homes would be listed by elderly downsizers if they weren't facing the repurchasing stamp duty burden.
John Daley, the chief executive of independent think tank the Grattan Institute, calculates an annual tax of $1 per every $1000 of a home's value would cost the median Sydney household $845 a year in tax.
I would however question the estimate due to the low reliability of NSW land valuations, which remain a flawed system. Any shift would require a fresh equitable modern revaluation of the state.
This article first appeared in The Daily Telegraph.
</body></html>

Is it time to consider a wider land tax?

<html><body>
A 15th-level, three-bedroom South Yarra apartment in the Robin Boyd designed Domain Park, largely in original condition, went to weekend auction.
It had a price guidance of $2 million to $2.2 million.
There was a $2.3 million opening bid.
It was auctioned by Marshall White auctioneer John Bongiorno who immediately declared the property on the market.
Three bidders then pushed the north-facing apartment, with protected views over the Royal Botanic Gardens and the city, to its $2.91 million sale price.
The 15th-level, three-bedroom apartment came with two car spaces at <a href="https://www.realestate.com.au/sold/property-apartment-vic-south+yarra-127919850" target="_blank">15.1/193 Domain Road</a>.
</body></html>

Robin Boyd designed Domain Park, South Yarra apartment sale at $2.91 million

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News